March 1, 2010
Income, Spending Inch Up In January
By Matthew L. Brown
Personal spending increased by 0.5 percent, or $52.4 billion, in January, according to the U.S. Bureau of Economic Analysis.
The increase followed a $26.4 billion December increase.
Personal income increased by $11.4 billion, or 0.1 percent, during the month while disposable income decreased by $47.6 billion, or 0.4 percent.
The bureau said the decrease in disposable income was the result of increases in federal non-withheld income taxes.
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